Plus much of the “high growth regions” potential was overestimated. It was the trendy business group think of 10 years ago - “we’ve got to expand into these high growth regions!”.
That doesn’t change facts. Look at the 5 year (or more) trend of Euro or Yen vs. dollar. Or do you trust everything that certain people say without verification of any of it. In fact, there even been a recent downward trend of the dollar when I compared last week.Tell that to tavares and richard palmer who are gleeful about the strong dollar (esp the current bout caused by large fast fed tightening): a good chunk ie several billion euros of stellantis' bumper global industry leading (more or less) profitability and (net)margins is due to 'favorable fx translation' aka strong dollar! The yen the korean won the aussie$ the brazilian real...the dirham too have consistently made 'imported from detroit' uncompetitive price wise (all else being equal), in fact that is a major reason why gm and ford globalized manufacturing with their non USA models....only to STILL be uncompetitivw on cost price with japanese korean and now china firms and models because of the consistently depreciated yen yuan won etc. Why do you suppose gm and ford (and chrysler corp and then fca) have withered away from australia.....also india, brazil etc. The made in usa fca Cherokee flunked in europe (large exports had been planned from usa) largely due overpricing due to strong dollar. Dollar is always too strong, even when fed doesn't raise interest rates fast and furious as currently. Because usa fiscal AND trade deficits are so epic that the dollar ought to ALWAYS be much much lower than the levels it. I believe the dollar's 'global reserve currency' status then is central to why usa manufacturing exports for eg of gm or ford cars and trucks and suv s and engines transmissions etc have suffered. Ie one major part of why gm and ford for eg have over last 2 decades or more withered and failed in global markets (ex n america). The dollar is always over valued relative to the epically epic size of american deficits. Incidentally the 'price' has been paid for this by usa labor esp in manufacturing. Just as italian labor costs and jobs bore the cost of the overvalued euro/common currency (to the benefit of german auto firms)